Monday, June 15, 2009


"What's the difference between California and Latvia? Answer: A week." - Jenna Orkin at FTW

Latvia risks becoming first EU member to face economic meltdown
By Adrian Blomfield, The Telegraph
Latvia is in danger of becoming the first European Union member to face total economic meltdown, experts have warned.

The tiny Baltic state's government has been urged to devalue its currency or risk the collapse of its economy – despite fears such a move could cause turmoil elsewhere in Europe.

Although devaluation would damage Latvia's ambitions of joining the euro, financial analysts said it was the only hope of avoiding a catastrophe after an international bail-out failed to reverse the country's fortunes..."

We keep bumping up against DJIA 8800, which was my initial minimum target for the Suckers' Rally. I have no reason to change my mind on this as a key level. While I personally think we have more room to run to the upside, it will be a desperation surge, running on vapors and then the nightmare monsters that all the bright boys and girls sweated about last fall will actually crawl from under the bed and walk the earth in daylight. Summer will not be pretty. Enjoy this corrective wave. Pause to look at flowers a little longer. Watch a sunset. Turn off the tube and go for a walk. Get ready, but don't gnaw at yourself with worry. Be prepared.

None of this is to be construed as trading advice. If you trade financial instruments based on anything you read at FutureJacked, baby seals will club sailors to death - and you might lose money.


David said...

I went back and looked at both your 8800 forecast and the comments (including my own) on that blog entry.

Would'a could'a should'a.

If the other commenter was right, the STU was off by one wave as were we. I wasn't subscribing to the STU then (I am now, for the time being).

I still agree with EWI that a Primary wave [2] top will look like the Village Idiots are managing money and running CNBC again, so the recent top still doesn't feel like "it."

I rode most the today's decline short but took the chips off the table in case of a rally that hasn't materialized (yet). Things are trading exceptionally weak.

Since all things serving as legal tender are debt-based, and debt is in the process of the Great Debt Die-off, it seems that the big challenge these days is to hold whatever it is that is least likely to decline in value or, in the case of debt, join the mountain of paper cadavers.

Only those with money or great talent (or both) have options. Everyone else gets whatever it is that lands on them, don't you think?

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